Maybe im making a mistake posting in earnest about LINK because everyone who's been convinced of its value is in stealth mode and its just raging fudders left behind. But I was recommended this medium article from 2018 which I think might demystify a lot of the opaque funding/token decisions the company has made (as well as the wait for mainnet):
Does anyone have a number for how much they spent acquiring Town Crier? As this article points out, it may have been a net gain. They may have spent x millions of dollars on the acquisition but that's not a loss at all--- they added its fundamental value, holdings, industry connections, and capabilities to their own. But moreover, who can quantify the boost in value to the LINK tokens and network this created, offsetting the actual cash expenditure? This is real tech they own, not just a promised mainnet.
This is a pattern of strategy Chainlink seems to have followed, and intelligently so. Recognizing the immense value that Linkpool adds by making it easy for a non-technical community to participate in nodes, they hire Jonny Huxtable. Their use of ICO money seems to have been smartly invested into acquisitions and relationships that increase the value of their token holdings, increasingly giving them the ability to leverage those tokens in further acquisitions and payment--- and, ultimately, in incentivizing various parties in the interest of developing the network.
The main FUD addressed: how can a company spend 2 years and $32 million without delivering mainnet? This answer is simple: the technical hurdles of the network have never been the real push. Chainlink's touted value is in connecting the insular tech of blockchains with real world events. More so than an engineering challenge, it is a social and political one--- how do you reshape the existing (and often hostile) API marketplace to a new model, create a framework that makes API data accessible, affordable, and navigable, create/organize a diverse community of node operators, and make the services attractive, useful, and accessible to industry? This is a dimension of social development that most freefloating blockchain projects havent had to address, and indeed its where all the hype and speculative value in link resides. It's clear that they understand this: beyond spending precious ICO money on acquisition and hiring, the bulk of their energy seems to be used in developing the connections, framework, and awareness that mainnet will require to anything more than vaporware. And that's what all the excitement here has been about. For all those who say the Tom Gonser affiliation isn't important: even if theyre not entering a direct partnership with Docusign, his enthusiasm for the project, reputation, and industry connections adds immense value to the real development of the project, as well as the value of the network and tokens that gives the company greater financial and networking latitude. Unlike many other blockchain projects, they are spending immense time and resources building their real social infrastructure before the release of their technological product, which is probably long completed.
Joseph Rogers
Of course, the company's high valuation depends on them delivering a product and accompanying infrastructure off the bat that works. People here say its way overvalued--- but is it really? As a speculative gamble, its made far more social and real world inroads than most other projects. I would venture to say that the value of the project is one of the strongest and most justified in real fundamentals even though mainnet is being withheld. I would not be surprised if mainnet release is accompanied by a reveal not just further partnerships, but also of node community organization efforts, previously obscure dealings with API providers to create a functioning marketplace, and a readymade network of applications/entities who are lined up to use it. The issue at hand has always been that if they released mainnet without any data providers, nodes, or users, who the fuck would care? And frankly as long as its significantly lower cap than dogecoin I think the valuation isnt unreasonable.
Sorry for the sloppy punctuation. I'm slightly hung over and phoneposting from the park. It's a fucking beautiful day.
>the company's high valuation We don't really know what's the valuation for SmarContract the company. Yes they sold a lot of tokens like Epic Games has sold a lot of v-bucks, but we can't equal that with the valuation of the company right?
You're right, I meant to write the value of the chainlink network. Not SmartContract the company.
Jaxon Lopez
you in central florida?
Sebastian Green
why do you use dogecoin as a reference? chainlink's value at the moment is fine where it is because it's value comes from it's network, which at the moment is 0.
if they released mainnet without users/nodes, someone could just fork it. to ensure that chainlink's network will be the main mainnet, its actually required that there be a bunch of operators/users right at the get go to kick off the network effect.
200IQ post. What I most like about the hiring of Jonny is that as well as being a solid dev, he is an absolutely 100% deluded linkie. Imagine being able to hire someone who would continue working on your tech even if you DIDN'T hire him. That's a good team member.
Xavier Clark
so linkers, would you sell it to me at least once. all i want is a concrete real life example of what chainlink is capable to do. no abstraction
Isaac Garcia
its capable of tracking every step of the production of bigmacs through revolutionary iot tech.
Ryan Wilson
will I make it with 7K link?
Wyatt Cruz
no you need at least 7,001 LINK, sorry.
Jaxon King
Turn fiat to bitcoin and bitcoin to fiat without a centralized exchange
Blake Lewis
We dont spoonfeed you, go all in or regret it later.
>equities, options, futures are valuable markets >currently costs a lot for collaborating financial institutions to maintain and reconcile databases which contain data relevant to these markets >much of this cost is reduced or eliminated eliminated if blockchain is used >encode equities and derivatives trading platforms as a smart contract on a blockchain >platforms need price feeds for relevant asset classes >need middleware called oracles to get price data >if oracle is centralized the point of blockchain is completely negated >chainlink is decentralized oracle network with many independent nodes getting price data independently to maintain end to end trustlessness is that concrete enough?
Fucking disgusting newfags, newlinkers, and nolinkers finally starting to question their idiocy make me sick.
Literally two seconds on google and you’ll find articles about Chainlink in Forbes, MIT Technology Review, reports on CNBC, hours and hours of talks on YouTube... warosu has over a YEAR of serious in depth discussion about everything to do with Chainlink, dissecting every last detail... there are thousands words long Medium and blog posts explaining Chainlink from start to finish... And you want to be spoonfed a personal reply, tailored just for you? Typed out for you, personally? Um no sweetie. There’s a reason you got zero decent replies and that’s because we refuse to spoonfeed newlinkers who are too lazy to type into google. We spent a year researching this shit every single day and holding even through painful dumps to 20c. And you show up demanding info? Can you see why no one wants to give it to you easy?
You have to have gone through this experience, the months and months of reading and searching and learning, to truly understand, and to get to the point where you know it inside and out and will never sell. If someone types you a few lines, you’ll read them, you may buy some LINK, but you’ll just sell sooner or later for whatever reason because you didn’t really KNOW anything. So it’s pointless to explain it to you anyway
>REMINDER: Do not spoonfeed the newlinkers - the ones who make low effort posts demanding tailored research just for their little pathetic low IQ queries. Why not? Well, 1) They don't deserve it. and 2) They wouldn't understand anyway.
Charles Gonzalez
HOW MANY TO MAKE IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Robert Diaz
If you have to ask, you don't understand the project
Except it's literally dumping right now. Target: 3000 sats
Isaac Brown
It's against the law for niggers to ride horses in this territory.
James Gutierrez
You Pajeets are getting smart. Instead of low effort shilling 100s of scamcoins, you all band together and shill LINK. English is very good too. I'd almost say you all deserve to win. Or is this is a bot convo Sergey wrote?
im sorry, you will need 1 billion LINK tokens to make it, sorry user.
Michael Myers
I consider this a gamble. Bought 1500 Link and observing what happens.
Aaron Clark
Fat lazy fucks like you can hire some half ass coder to create a smart contract betting system that will payout in ethereum should you lose x amount of weight using chainlink scale connected to Ethereum. The smart contract will inevitably take all your money from losing the bet because your too much of a lazy sow to accomplish anything in your life, such as taking half an hour out of your miserable day to research a start up company.
Noah Rodriguez
>35 million tokens Kek
Thomas Harris
>yfw chainlink is needed for eugenics use case in the real world
there is a vishnu in the smart contract
Alexander Myers
I appreciate your thoughts, and agree, thanks for sharing.
Jacob Morales
Give me a few minutes and I'll find one of my 3 post educational copy pasta from October 2017
Connor Adams
its just one more useless shit coin on the market with no practical application that somebody would pay for.
Great post. Chainlink has two team: development and bizdev. We hear nothing at all from the bizdev team, we know Sergey is a workaholic, what else have Dan Kochis, Adelyn and Mark Oblad been up to for a year?
You can see the industry connections, the MIT articles for example. Also see this article just before the ICO launch:
They have all the right contacts, they've done all the preparation. Sergey is perfect really... engineering family, management + philosophy, early VC experience, early to blockchain, a couple of early failures to learn from. Years building connections...
Thanks for the kind replies, I'm happy to share my thinking about this because theres been little quality content lately about why to have faith in this project. To further clarify some of my thinking:
People were excited about bitcoin and blockchain in general because they believed it would change the social landscape of life, redefining where power and wealth lays as well as who gets to control it. It has failed totally because there is little understanding on the part of developers or community that those social changes have to be systematically cultivated for bitcoin to become what they want. I dont have the answer about how to do that but for one thought, there has been little group effort to organize businesses to accept it, to educate users on how to use it or at least make it more user friendly, or to push for necessary regulatory oversight so people dont get justed by scams and manipulations of the market by whales and exchanges alike. Instead it mostly became a toy for anarchists, libertarians, and unscrupulous opportunists. Moreover the astronomical value increases of BTC are probably more from its fringe appeal and programmatic nature (decreasing supply of new minted coins) than having had some profound social impact.
Caleb Brooks
Chainlink is so interesting to me because almost all their effort is to change the social landscape of the area where their tech will be applied, all in order to make the tech WORK. And they can't afford not to--- the whole point of the project is to take the freefloating deterministic nature of blockchain and make it somehow function in the more slippery realities of meatspace social and business life. The existence alone of LP and CLC group is proof of its success so far in this; groups affiliated or inspired by the project want to create frameworks that will organize the implementation of the tech, both among users and data providers. Theyve apparently invested ICO money heavily both in tech, acquisition, and relationships that advance these real-world social frameworks. Definitely read the article in my original post, it's quite short. This all makes for probably the most solid fundamentals among a blockchain project with real world behavior--- by which I mean it is striving to reshape life, not just be a fanciful toy that functions in a disconnected environment. Very few projects are this ambitious or have come this far.
Aaron Torres
The bottom line is that theyve built up the value of the network (and tokens) cleverly using ICO money and now they will be able to use the big supply they hold to continue to grow the networks value. They will do this the same as theyve done so far--- buying or incentivizing strategic partnerships, acquisitions, and business relationships. Again, I think their valuation is actually not that overblown nor does it worry me that they hold such a huge supply. There's a sort of aversion on this board to projects where the team holds supply and is in charge of strategically distributing it, as opposed to the "fair distribution" of mining. Personally I rather think letting just anyone who has the resources to mine a coin become the principal holders of it is a disaster if you are trying to strategically and politically implement your project into the fabric of business and social life. The team will definitely hold coins for themselves; they therefore have more incentive to keep growing the tokens' value for own benefit than to dump them and run away. Effectively and strategically putting them into such hands that the network will function better is how they will ensure the continued growth of the networks value.
Oliver Garcia
Great thoughts and quality points, thanks for sharing
Jeremiah Fisher
That's what user said
Levi Stewart
Thanks bro
Jeremiah Thomas
This is a fairly accurate number for US & other first world residents, though 10k will be enough for the frugal or non first worlders. In some countries 10k will make you a king.
This is of course dependent on LINK actually succeeding, but if that happens within a year or two of main net 30k should allow you to never work again if you want.
I just want to let everyone know I had a great day and I hope you did too
Leo Thompson
This is OP btw moved back to my computer.
Nicholas Roberts
Glad to hear that fren, see you at the yacht party
Eli Thompson
Those who said Sergey has no vision (the same speech!) have not been paying attention, particularly to his earliest appearances.
Chainlink is being constructed to fill the role of an idealised arbiter of truth, connected to the most perfectly dispassionate executor, in the form of public smart contract chains.
This is in fulfilment of the deepest Platonic ideals of contract and governance that have ever been conceived, but which have remained out of reach, mere approximations even under the highest forms of lawful Republic, as at every step human capriciousness asserts itself and corrodes the final product, the freedom of contract found when our pledges are given force by Leviathan. Alas, ‘from the crooked timbers of humanity, no straight thing was ever made’.
By redrawing the locus of consensus as that of a precise ledger with sound game-theoretical guarantees at its edges, and iron-clad stricture within, rather than a continuously renegotiated knife fight, the level of trust required to engage in mutually beneficial enterprise plummets precipitously.
But what does it plummet to? The trust required is now neatly circumscribed to the trust in the information delivered unto our new Leviathan. There is fortunately a market for this trust, a pool of agents who are willing to stake their reputation and collateral on any piece of digitisable information on which it is possible to come to consensus. The truth is a most excellent Schelling point, and one which well-incentivised agents can reliably settle on.
Do not underestimate the power and the generality of this arrangement in its maturity, nor the amount of human and economic potential that this will unlock.
Welcome to the trust market.
Jayden Peterson
btw yes it’s me the guy who makes the sephirot memes, this is not a pasta, wrote this just now
see you on the mf other side
Isaiah Hill
Anyone with expert level knowledge based in the EU or the U.S. are more than welcome to apply the job my friend and I are offering to Jow Forums
Carter Gonzalez
Expert-level knowledge on Chainlink and the associated LINK token.*****
Colton Allen
I'm convinced link is a gen z coin as in it will require not only all the corporate boomers and gen x to die off, but also the tree hugging millennials for people to finally wake up to its magnificence
Colton Hall
i share similar stack and issue with technical proficiency. i wouldnt trust random bizlets.
hold your stack until it becomes more clear or better services sprout
Luis Morris
Seriously user biz doesn't deserve it, please stop posting sense and come back into stealth mode
Jayden Russell
Don't give this guy shit, he expects the rest of us to spend months researching so he can be spoon-fed
Caleb Garcia
Based thread. Sorry we're stealth now and this essentially killed the board for decent convo
